LPL Financial LLC Has $5.65 Million Stock Position in Trinity Capital Inc. (NASDAQ:TRIN)

Key Points

• LPL Financial LLC increased its stake in Trinity Capital Inc. by 689.7%, now owning 372,983 shares valued at approximately $5.65 million.
• Trinity Capital reported a quarterly EPS of $0.53, exceeding analyst estimates of $0.52, while also achieving a net margin of 51.88%.
• The company declared a quarterly dividend of $0.51 per share, resulting in an annualized yield of 12.9% and a payout ratio of 91.48%.

LPL Financial LLC raised its holdings in shares of Trinity Capital Inc. (NASDAQ:TRIN - Free Report) by 689.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 372,983 shares of the company's stock after buying an additional 325,753 shares during the quarter. LPL Financial LLC owned about 0.59% of Trinity Capital worth $5,654,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its position in Trinity Capital by 9.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,173 shares of the company's stock worth $176,000 after buying an additional 1,000 shares during the period. PFG Investments LLC increased its holdings in shares of Trinity Capital by 9.9% in the first quarter. PFG Investments LLC now owns 13,204 shares of the company's stock valued at $200,000 after purchasing an additional 1,188 shares during the period. Farther Finance Advisors LLC acquired a new position in shares of Trinity Capital in the first quarter valued at approximately $38,000. Guggenheim Capital LLC increased its holdings in shares of Trinity Capital by 9.2% in the fourth quarter. Guggenheim Capital LLC now owns 30,027 shares of the company's stock valued at $434,000 after purchasing an additional 2,541 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Trinity Capital by 36.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,000 shares of the company's stock valued at $222,000 after purchasing an additional 3,706 shares during the period. 24.62% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Richard P. Hamada sold 3,335 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $14.90, for a total value of $49,691.50. Following the completion of the sale, the director owned 93,735 shares in the company, valued at approximately $1,396,651.50. This trade represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kyle Steven Brown purchased 3,200 shares of Trinity Capital stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $15.78 per share, with a total value of $50,496.00. Following the acquisition, the chief executive officer directly owned 1,006,300 shares of the company's stock, valued at $15,879,414. The trade was a 0.32% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 5,900 shares of company stock valued at $89,546 over the last 90 days. 5.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. UBS Group boosted their target price on Trinity Capital from $17.00 to $17.50 and gave the company a "buy" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods dropped their price objective on Trinity Capital from $16.00 to $15.00 and set a "market perform" rating on the stock in a report on Thursday, May 8th. B. Riley upped their price objective on Trinity Capital from $16.00 to $17.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and set a $13.50 price objective (up previously from $13.00) on shares of Trinity Capital in a report on Tuesday.

Trinity Capital Trading Down 0.9%

Shares of NASDAQ:TRIN traded down $0.15 on Friday, hitting $15.95. The company had a trading volume of 512,621 shares, compared to its average volume of 672,874. Trinity Capital Inc. has a 52-week low of $12.50 and a 52-week high of $16.82. The business has a 50 day moving average of $14.76 and a 200 day moving average of $14.99. The company has a market cap of $1.12 billion, a PE ratio of 7.15 and a beta of 0.54.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. Trinity Capital had a return on equity of 15.72% and a net margin of 51.88%. The business had revenue of $69.48 million for the quarter, compared to the consensus estimate of $68.84 million. As a group, equities analysts predict that Trinity Capital Inc. will post 2.06 EPS for the current year.

Trinity Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.51 per share. The ex-dividend date was Monday, June 30th. This represents a $2.04 annualized dividend and a yield of 12.8%. Trinity Capital's dividend payout ratio is currently 91.48%.

About Trinity Capital

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.